Moss Adams Wealth Advisors LLC Increases Position in Wells Fargo & Company (NYSE:WFC)

Moss Adams Wealth Advisors LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 45.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,708 shares of the financial services provider’s stock after purchasing an additional 3,344 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $605,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WFC. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company in the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company in the 2nd quarter valued at about $26,000. Valued Wealth Advisors LLC grew its holdings in shares of Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares during the period. J.Safra Asset Management Corp raised its holdings in Wells Fargo & Company by 704.3% in the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after buying an additional 648 shares during the period. Finally, Fairscale Capital LLC acquired a new position in Wells Fargo & Company during the second quarter valued at approximately $47,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC opened at $64.37 on Friday. Wells Fargo & Company has a 52 week low of $38.58 and a 52 week high of $64.78. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The firm has a market cap of $224.41 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.46 and a beta of 1.16. The stock has a 50 day moving average of $56.50 and a 200-day moving average of $57.99.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same period last year, the firm posted $1.39 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, analysts forecast that Wells Fargo & Company will post 5.12 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.49%. Wells Fargo & Company’s dividend payout ratio is 32.85%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Tuesday, October 8th. Compass Point upped their target price on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday. Piper Sandler raised their target price on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Monday, October 14th. BMO Capital Markets increased their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Finally, Morgan Stanley decreased their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.82.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.